AirBaltic becomes fully government owned

The Latvian government has acquired the 47.2% stake in airBaltic (BT) previously held by Baltijas Aviacijas Sistemas (BAS), the company controlled by former BT president and CEO Bertolt Flick.

AirBaltic 737-500. By Rob Finlayson
The Latvian government has acquired the 47.2% stake in airBaltic (BT) previously held by Baltijas Aviacijas Sistemas (BAS), the company controlled by former BT president and CEO Bertolt Flick. It now owns 99.8% of the Riga-based carrier.
The purchase follows the collapse of the Lithuanian bank Snoras and its subsidiary Krajbanka, which held the BAS shares in airBaltic as collateral. The government used its pre-emptive right to make the ...